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Finance Question: A project has an initial cost of $55,000, expected net cash inflows of $11,000 per year for 10 years, and a cost of

Finance Question:

A project has an initial cost of $55,000, expected net cash inflows of $11,000 per year for 10 years, and a cost of capital of 8%. What is the project's IRR?

Round your answer to two decimal places.

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